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Is it bad for your credit if old credit card accounts are closed by the creditor and not by you?
Wiki User
∙ 8y ago
It is considered a derogatory mark on a consumer's credit report to have the notation "closed by credit grantor" rather than "closed by consumer".
Wiki User
∙ 8y ago
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What does cancelled by credit grantor mean?
Cancelled by credit grantor means that your credit card account was closed by the creditor. This means that it was cancelled by the person extending you credit, rather than being cancelled by you.
Can a creditor go after a corporation to satisfy a credit card judgment?
Only if the credit card is assigned to the business as a company card.
What happens to the interest rate on your credit card if you've filed for Chapter 7 Bankruptcy?
If the credit card was included in the Chapter 7, nothing happens. The account will be closed by the creditor and the amount owed including any accrued interest is wiped out.
What does creditor do when you apply for a credit card?
They check you credit rating with the 3 main credit bureaus.
For how long closed credit cards stay on my credit report?
only like 5 months -andrea It must depend on the type of credit report. My 2007 CSC Mortgage Services report has credit card accounts on it that I closed in 1997. No late payments, no negative marks. Just listed there as a closed account. -Lee
Is there a form letter a person can write to close old charge accounts?
It doesn't need to be anything fancy. Just keep it simple. "Dear Creditor: I will no longer be using your credit card. Please close my account and report the account to the creditor bureaus as being closed at my request."
What does cancelled by credit grantor mean?
Cancelled by credit grantor means that your credit card account was closed by the creditor. This means that it was cancelled by the person extending you credit, rather than being cancelled by you.
How do you locate the mailing addresses of credit card companies with whom you have accounts?
I just got my credit report from Equifax and it had all the creditors addresses (open and closed) included when I viewed the details of my accounts.
How long does it take for credit card accounts to be closed if they have not been paid?
If a credit card account has an outstanding balance that is defaulted on, the account will not be closed. The account will be charged to profit and loss, or sent/sold/assigned to collections, either internal or external.
Can a creditor go after a corporation to satisfy a credit card judgment?
Only if the credit card is assigned to the business as a company card.
Should your sister be paying on her credit card balance if her credit card debt has not yet been discharged but her accounts have been closed by the credit grantor?
Your sister should not be paying on the credit card balance. In fact, the credit card company cannot even legally send her statements because she is protected by the automatic stay.
What does creditor do when you apply for a credit card?
They check you credit rating with the 3 main credit bureaus.
What happens to the interest rate on your credit card if you've filed for Chapter 7 Bankruptcy?
If the credit card was included in the Chapter 7, nothing happens. The account will be closed by the creditor and the amount owed including any accrued interest is wiped out.
For how long closed credit cards stay on my credit report?
only like 5 months -andrea It must depend on the type of credit report. My 2007 CSC Mortgage Services report has credit card accounts on it that I closed in 1997. No late payments, no negative marks. Just listed there as a closed account. -Lee
How are store credit accounts different from bank credit card accounts?
cuz ur stupid
Can a credit card company take a judgment against you if it is unsecured and it has been over 4 years?
It is quite possible,most credit card accounts are unsecured. A creditor can file a lawsuit and if it is won, receive a writ of judgment that can be executed against all nonexempt property that belongs to the debtor. Each state has SOL's that pertain to open accounts such as credit cards. However, the expiration of the SOL does not automatically stop a creditor from seeking collection of a debt. (Macky..macky83@juno.com)
Can you re-open a credit card once closed?
Credit card companies will not reopen a credit card account once it has been closed. The company will issue a new credit card and new account if it wishes to do business with the person.
